LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global fixed-base operators market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report.
Collective pooling of airside equipment is one of the major trends being witnessed in the global fixed-base operators market 2019-2023. Vendors operating in the market require ground handling equipment to provide different services at airports. The support equipment is either owned or leased by operators and stored at the airport terminal. However, at a specific point in time, the number of handling equipment stored around the apron is more than the actual requirement. This can lead to increased overhead costs because of the lack of effective utilization of resources. Therefore, different stakeholders in the value chain, including airlines, FB0s, and airport authorities are taking initiatives such as collective pooling of airside equipment to increase their operational efficiency and reduce operating costs.
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According to Technavio analysts, one of the key factors contributing to the growth of the global fixed-base operators market is the global airport infrastructure growth:
Global fixed-base operators market: Global airport infrastructure growth
The evolution of airports plays an important role in a country's economy. During the forecast period, the number of air travelers globally is expected to grow at a CAGR of around 3%-4%. This significant rise in the number of air travelers has increased the congestion in airports. The number of operational aircraft has increased to cater to the rising number of air travelers.
According to a senior analyst at Technavio for research on commercial aviation, “The need for modernization and up-gradation of airport infrastructure is growing to facilitate the increased movement of aircraft. The demand for FBOs is expected to increase to streamline various operations, including fueling, parking, and aircraft maintenance. This will drive the growth of the market during the forecast period.”
Global fixed-base operators market: Segmentation analysis
The global fixed-base operators market research report provides market segmentation by service (PAGH and CAGH) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The PAGH segment held the largest market share in 2018, accounting for over 74% of the market. This service segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 75%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share by over 2%.
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Five Forces Analysis
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- Vendors covered
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